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4 star

Kotak Credit Risk Fund - Direct Plan


Debt: Credit Risk

1 Lakh

Investment Grown to
₹ 1.10 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.25 Lakh

Suitability:

Credit risk funds invest mainly in bonds which are rated AA or below by credit rating agencies. The lower rating indicates a higher possibility of these bonds defaulting on repayment of investors' money. Therefore, these funds are the riskiest among debt fund categories. But they compensate for this additional risk with a higher return potential as these bonds offer better rates of interest than the highest rated bonds.

However, retail investors can avoid these funds altogether. There are far too many kinds of debt funds with a highly nuanced classification based on the type or duration of bonds they can invest in. We believe that so many fund categories add to complexity which is easily avoidable. Retail investors can simply invest in Liquid funds for an investment horizon of up to one year and Short Duration funds for the fixed income allocation (which should be 100 per cent for an investment horizon of up to three years) in their longer-term portfolios.

Taxability of earnings:

Capital gains

  • If the mutual fund units are sold after 3 years from the date of investment, gains are taxed at the rate of 20% after providing the benefit of inflation indexation.
  • If the mutual fund units are sold within 3 years from the date of investment, entire amount of gain is added to the investors' income and taxed according to the applicable slab rate.
  • No tax is to be paid as long as you continue to hold the units.

Dividends

  • Dividends are added to the income of the investors and taxed according to their respective tax slabs. Further, if an investor's dividend income exceeds Rs. 5,000 in a financial year, the fund house also deducts a TDS of 10% before distributing the dividend.

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(₹)
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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 3.17 0.04 0.31 0.81 2.75 3.73 10.27 8.56 8.52 9.13 --
CCIL T Bill Liquidity Weight 0.86 0.02 0.05 0.20 0.51 0.97 2.16 3.59 3.79 4.24 --
Debt: Credit Risk 3.67 0.04 0.25 0.79 2.87 4.11 10.10 2.67 4.55 6.74 --
Rank within category 9 9 4 8 5 9 9 3 3 3 --
Number of funds in category 16 16 16 16 16 16 16 16 15 8 0

As on 11-Jun-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Kotak Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 10.27 8.56 8.52 0.66 1,787
HDFC Credit Risk Debt Fund - Direct Plan  | Invest Online
5 star
Mar-14 13.36 9.82 9.10 1.10 7,631
ICICI Prudential Credit Risk Fund - Direct Plan  | Invest Now
5 star
Jan-13 11.00 9.74 9.33 0.90 7,443
SBI Credit Risk Fund - Direct Plan  | Invest Online
4 star
Jan-13 9.69 8.43 8.27 0.91 3,497
Axis Credit Risk Fund - Direct Plan
4 star
Jul-14 10.26 7.96 8.06 0.56 626

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 2.61 24-Mar-2020 - 31-Mar-2020 -2.13 22-Apr-2020 - 29-Apr-2020
Month 3.07 10-Jun-2020 - 10-Jul-2020 -3.50 25-Feb-2020 - 26-Mar-2020
Quarter 5.26 29-Apr-2020 - 29-Jul-2020 -2.95 20-May-2013 - 19-Aug-2013
Year 13.59 24-Nov-2015 - 24-Nov-2016 5.35 24-Feb-2020 - 23-Feb-2021

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 8.15 2.67 1.45 1.28 -1.40 2.77
CCIL T Bill Liquidity Weight 3.52 0.39 -2.00 -4.76 -- --
Debt: Credit Risk 2.84 6.70 0.56 0.66 -3.82 -4.41
Rank within category 3 5 5 5 9 6
Number of funds in category 16 16 16 16 16 16

The Risk Measures have been calculated using calendar month returns for the last three years.

As on 31-May-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 48 52 45 29
Modified Duration (yrs) 1.90 2.39 1.28 1.65
Average Maturity (yrs) 2.87 3.39 1.78 2.13
Yield to Maturity (%) 6.33 9.94 6.33 6.38
Avg Credit Rating AA -- -- --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 9.23% Talwandi Sabo Power 30/07/2021 Debenture AA 9.09 - 10.88 10.88
equal 2.00% Tata Steel 23/04/2022 Debenture AA 0.00 - 9.55 9.55
equal 10.90% Punjab & Sind Bank Additional Tier 1 Bond A- 6.38 - 7.21 6.47
equal 9.90% Coastal Gujarat Power 27/08/2028 Debenture AA 5.09 - 6.33 6.33
new 5.70% Bajaj Housing Finance 2024 Debenture AAA 0.00 - 5.59 5.59
equal 5.53% National Bank Agr. Rur. Devp 22/02/2024 Non Convertible Debenture AAA 0.00 - 4.24 4.24
equal Bahadur Chand Investments 2024 Zero Coupon Bonds AA 3.76 - 4.21 4.21
equal 9.25% Power Finance Corp. Additional Tier 2 Bond AAA 3.54 - 5.60 3.82
equal 9.20% Union Bank of India Additional Tier 1 Bond AA- 0.00 - 3.69 3.69
new 7.50% HDFC 2025 Debenture AAA 0.00 - 2.96 2.96
equal 7.20% Karnataka State 25/01/2027 State Development Loan SOV 0.00 - 2.90 2.90
equal 8.35% Tata Projects 17/12/2021 Zero Coupon Bonds AA 0.00 - 2.85 2.85
equal 7.25% NUVOCO Vistas Corp. 25/09/2023 Debenture AA 0.00 - 2.84 2.84
equal 7.50% Godrej Properties 31/07/2023 Zero Coupon Bonds AA 0.00 - 2.83 2.83
equal 6.12% Karnataka State 22/07/2027 State Development Loan SOV 0.00 - 2.75 2.75
equal Muthoot Finance 19/04/2023 Bonds/Debentures AA+ 0.00 - 2.23 2.23
equal 10.15% Uttar Pradesh Power Corporation 20/01/2022 Debenture A+ 1.82 - 2.41 1.82
down 8.55% L&T Infrastructre Finance 29/11/2022 Non Convertible Debenture AAA 1.75 - 4.66 1.75
equal 6.57% Gujarat State 2029 State Development Loan SOV 0.00 - 1.67 1.67
equal 9.75% Uttar Pradesh Power Corporation 20/10/2021 Debenture A+ 1.52 - 4.91 1.52
equal 6.87% National Bank Agr. Rur. Devp 2030 Bonds/NCDs AAA 0.00 - 1.41 1.41
equal 5.30% HDFC 2023 Debenture AAA 0.00 - 1.41 1.41
equal 8.85% Power Finance Corp. 25/05/2029 Bonds/NCDs AAA 1.15 - 6.35 1.25
equal 6.97% Maharashtra State 18/02/2028 State Development Loan SOV 0.00 - 1.15 1.15
new 8.35% Manappuram Finance 18/02/2022 Non Convertible Debenture AA 0.00 - 1.14 1.14

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 31-May-2021

Fund Manager

— Deepak Agrawal since 01-Jan-2013

Education: Mr. Agrawal is Post Graduate in Commerce from Mumbai University, Chartered Accountant, Company Secretary and CFA.

Experience: He has been associated with Kotak AMC since 2000.

Funds Managed:


0.04%

Change from previous, NAV as on 11-Jun-2021

Growth: ₹ 25.7298

IDCW Yearly: ₹ 19.3255

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IDCW Weekly: ₹ 10.4565

IDCW Quarterly: ₹ 10.4947

IDCW Monthly: ₹ 10.6480


Investment Strategy

The scheme seeks to generate income by investing in debt /and money market securities across the yield curve and predominantly in AA rated and below corporate securities.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 6
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) 1,000
Lock-in Period Not Applicable
Exit Load For units in excess of 6% of the investment,1% will be charged for redemption within 365 days

Basic Details

Fund House: Kotak Mahindra Mutual Fund
Launch Date: 01-Jan-2013
Return Since Launch: 9.15%
Benchmark: NIFTY Credit Risk Bond TRI
Riskometer: High
Type: Open-ended
Assets: ₹ 1,787 Cr (As on 31-May-2021)
Expense: 0.66% (As on 30-Apr-2021)
Risk Grade: Average
Return Grade: Above Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Weekly08-Jun-20210.0195

 01-Jun-20210.0170
 25-May-20210.0202
 18-May-20210.0074
 11-May-20210.0128
 04-May-20210.0164
 27-Apr-20210.0619
 20-Apr-20210.0117
 15-Apr-20210.0287
 06-Apr-20210.0173
 31-Mar-20210.0463
 23-Mar-20210.0132
 27-Jan-20210.0015
 12-Jan-20210.0167
 05-Jan-20210.0211
 29-Dec-20200.0224
 22-Dec-20200.0212
 15-Dec-20200.0097
 08-Dec-20200.0143
 02-Dec-20200.0205
 24-Nov-20200.0142
 18-Nov-20200.0172
 10-Nov-20200.0244
 13-Oct-20200.0691
 06-Oct-20200.0006
IDCW Monthly12-May-20210.1048

 12-Apr-20210.0976
 12-Mar-20210.0122
 12-Jan-20210.0819
 14-Dec-20200.0671
 12-Oct-20200.1071
 14-Sep-20200.0961
 12-Aug-20200.0559
 13-Jul-20200.1610
 12-Feb-20200.1149
 13-Jan-20200.0790
 12-Dec-20190.0377
 13-Nov-20190.0817
 15-Oct-20190.0537
 14-Oct-20190.0537
 12-Sep-20190.0696
 13-Aug-20190.0704
 12-Jul-20190.0722
 12-Jun-20190.0749
 13-May-20190.0347
 12-Apr-20190.0607
 12-Mar-20190.0473
 12-Feb-20190.0371
 14-Jan-20190.0838
 12-Dec-20180.0736
IDCW Quarterly22-Mar-20210.0619

 22-Dec-20200.1973
 21-Sep-20200.3350
 22-Jun-20200.1766
 20-Mar-20200.0577
 20-Dec-20190.1762
 20-Sep-20190.1870
 20-Jun-20190.1477
 20-Mar-20190.1384
 20-Dec-20180.1486
 21-Sep-20180.1194
 20-Jun-20180.0536
 20-Mar-20180.1018
 20-Dec-20170.0875
 20-Sep-20170.1303
 20-Jun-20170.1968
 20-Mar-20170.0891
 20-Dec-20160.0808

Contact Information

AMC: Kotak Mahindra Asset Management Company Ltd

Address: 27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra (E) Mumbai - 400051

Phone: 022-61152100 / 1800-22-2626

Fax: 022-66384455

Email: [email protected]

Website: http://www.kotakmutual.com

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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